Tarsus Pharmaceuticals, Inc. $TARS Shares Purchased by Jennison Associates LLC

Jennison Associates LLC raised its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 5.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,604,580 shares of the company’s stock after purchasing an additional 136,582 shares during the period. Jennison Associates LLC owned about 6.17% of Tarsus Pharmaceuticals worth $154,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. TFG Asset Management GP Ltd raised its stake in Tarsus Pharmaceuticals by 40.1% in the second quarter. TFG Asset Management GP Ltd now owns 250,000 shares of the company’s stock valued at $10,128,000 after buying an additional 71,530 shares in the last quarter. Capricorn Fund Managers Ltd purchased a new position in shares of Tarsus Pharmaceuticals in the 3rd quarter valued at about $14,264,000. Allianz Asset Management GmbH acquired a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter worth about $227,000. Jump Financial LLC lifted its stake in Tarsus Pharmaceuticals by 385.9% during the second quarter. Jump Financial LLC now owns 237,117 shares of the company’s stock worth $9,606,000 after purchasing an additional 188,317 shares during the last quarter. Finally, Norges Bank acquired a new position in Tarsus Pharmaceuticals in the second quarter valued at approximately $19,095,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on TARS shares. HC Wainwright raised their price objective on shares of Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Guggenheim lifted their price target on shares of Tarsus Pharmaceuticals from $84.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Mizuho assumed coverage on shares of Tarsus Pharmaceuticals in a research note on Thursday, November 20th. They issued an “outperform” rating and a $100.00 price objective for the company. Barclays assumed coverage on Tarsus Pharmaceuticals in a research report on Monday, December 8th. They set an “overweight” rating and a $100.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.86.

Insider Activity at Tarsus Pharmaceuticals

In other news, insider Dianne C. Whitfield sold 7,397 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $80.10, for a total value of $592,499.70. Following the transaction, the insider owned 38,958 shares of the company’s stock, valued at approximately $3,120,535.80. The trade was a 15.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $82.51, for a total value of $495,060.00. Following the sale, the chief executive officer directly owned 857,991 shares of the company’s stock, valued at approximately $70,792,837.41. This represents a 0.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 8.97% of the company’s stock.

Tarsus Pharmaceuticals Trading Down 3.8%

Shares of Tarsus Pharmaceuticals stock opened at $68.36 on Friday. Tarsus Pharmaceuticals, Inc. has a 1 year low of $38.51 and a 1 year high of $85.25. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.25 and a current ratio of 4.29. The company has a market capitalization of $2.90 billion, a P/E ratio of -33.84, a PEG ratio of 1.18 and a beta of 0.59. The company’s fifty day moving average is $78.62 and its two-hundred day moving average is $64.38.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Tuesday, November 4th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Tarsus Pharmaceuticals had a negative net margin of 22.17% and a negative return on equity of 26.29%. The business had revenue of $118.70 million during the quarter, compared to analysts’ expectations of $114.22 million. Analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Tarsus Pharmaceuticals Profile

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.